Need 'Edit Update' option for Updates!

[#1]

If you make an update, and realize you made a mistake, there is no 'edit update' option when clicking the 3 dots next to the timestamp. You can only delete or copy the update. This is really frustrating especially if you want to edit an update in a comment thread and don't want to delete your comment from the thread and re-add out of order. I'm pretty sure this option used to be in Classic experience? Basically every other PM tool has this option, I'm surprised WF doesn't - it's a simple yet really needed option! Screenshot attached shows where it should be added.

[#2]

In a subsequent release, WF made it possible to 'undo' comment within 7 seconds of posting, but this would be move valuable if there was no time limit and users could edit an update anytime.